All Forum Posts by: Account Closed

Investment Info:

Single-family residence buy & hold investment in Valley Station.

Purchase price: $110,000
Cash invested: $35,000

4 BR 1 BA Cape Cod

What made you interested in investing in this type of deal?

Good rental property, good area of town

How did you find this deal and how did you negotiate it?

Worked with my real estate agent. I used the Bigger Pockets Tools to determine the #s, and help us decide whether or not it was a good deal.

How did you finance this deal?

HELOC for the down payment, and conventional mortgage for the remainder

What was the outcome?

We closed on the property at the end of 2018!

Lessons learned? Challenges?

We looked at more than 15 properties, put in offers on 4, and spent money on home inspections that we could have avoided. With the help of our agent, we devised a plan to avoid scheduling a home inspection until after doing our due dilligence on the questionable areas of a property.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We had the best real estate agent working with us. His name is Anthony Hall, and is an agent for Semonin Realtors in Louisville, Kentucky. Anthony was always available to answer our phone calls, questions, or meet us at a property. He treated us as his top priority and offered good advice when we needed it. Anthony is so pleasant, patient, knowledgeable of all neighborhoods around town, and experienced in real estate. We feel like we hit the jackpot with Anthony!

I certainly appreciate all the responses to my inquiry. I feel each of you have given information that will benefit myself and my husband. I have learned a lot!!

Thank you Theo Hicks. This will, in fact, be a long term buy and hold.

Thanks Stephanie Potter! That's great info!

Thank you Jaron Walling. This will be a buy and hold. 

Thank you Brian Garrett! 

Thanks, David Wright, for your response. As stated, my husband and I are ready to purchase a SF rental property. We will not be living there. This is an investment property that could be considered commercial, since it is an investment property. However, the information I am attempting to gather is not whether it's a commercial or non-commercial property. I am looking for information about the type of loan we should try to secure in order to purchase the property. 

My husband and I are getting ready to purchase a SF rental property.   My accountant referred us to a commercial loan officer at a local bank, because that's how he purchases his rental properties.  I haven't heard Brandon mention using commercial loans for "non-commercial" property. We would appreciate any thoughts, educated opinions, or ideas on this subject.